CM inaugurates country's first private integrated steel plant

Chief Minister YS Rajasekhara Reddy inaugurated the country's first private integrated steel plant - Maa Mahamaya Industries - at Relligourammapeta village in L.Kota mandal in the district on Saturday.

Chief Minister said that the government gave priority to employment for youth. Accordingly, it was giving various incentives like stamp duty concessions, reduction in power tariff and other facilities to attract investors. Steps were taken to set up more industries with the objective of achieving balanced growth.

Chief Minister appreciated Maa Mahamaya Industries management for setting up the steel plant in this backward region. More industries should come up in the region to generate adequate employment opportunities, he said.

Chief Minister said that Rs 15,000 crore was about to be invested in the industrial sector of the State by foreigners in the next three years, in addition to the Rs 5,000 crore already invested in the first two years of the present government's regime.

Reddy said the TDP government had set up industries with a capital of Rs 5,000 crore in five years. On the other hand, the Congress attracted equal investments in the first two years of its rule.

Congress AP affairs in-charge Digvijay Singh, State Marketing Minister Botsa Satyanarayana, Visakhapatnam MP N Janardhan Reddy, Maa Mahamaya Industries chairman and managing director Ashok Kumar Agarwal, founder Vidyasagar Agarwal, directors Ramcharan Agarwal and Ramgopal Agarwal and others participated

(Courtesy : www.newindpress.com)